{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/55.1-1002.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/55.1-1002.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/55.1-1002.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/55.1-1002.html"}],"law_id":79138,"edition_id":1,"section_id":79138,"structure_id":15275,"section_number":"55.1-1002","catch_line":"Scope of chapter; lay real estate settlement agents","history":"1997, c. 716, \u00a7 6.1-2.19; 1998, cc. 69, 162, 736; 1999, c. 647, \u00a7 6.1-2.32; 2010, c. 794, \u00a7 55-525.18; 2019, c. 712.","full_text":"A\n\nExcept as provided in subsection B, this chapter applies only to transactions involving the purchase of or lending on the security of real estate located in the Commonwealth containing not more than four residential dwelling units.B\n\nNotwithstanding any rule of court or other provision of this chapter to the contrary:1\n\nA lay real estate settlement agent may provide escrow, closing, and settlement services for any real property located within the Commonwealth, and receive compensation for such services, provided that he is registered pursuant to and is in compliance with the provisions of this chapter with the exception of subsection A; and2\n\nA party to a real estate transaction involving the purchase of or lending on the security of real estate located in the Commonwealth containing more than four residential dwelling units shall have the same authority as a party to a real estate transaction as is provided pursuant to subsection B of § 55.1-1003.","order_by":null,"text":{"0":{"id":283430,"text":"Except as provided in subsection B, this chapter applies only to transactions involving the purchase of or lending on the security of real estate located in the Commonwealth containing not more than four residential dwelling units.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":283431,"text":"Notwithstanding any rule of court or other provision of this chapter to the contrary:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B1"},"2":{"id":283432,"text":"A lay real estate settlement agent may provide escrow, closing, and settlement services for any real property located within the Commonwealth, and receive compensation for such services, provided that he is registered pursuant to and is in compliance with the provisions of this chapter with the exception of subsection A; and","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"3":{"id":283433,"text":"A party to a real estate transaction involving the purchase of or lending on the security of real estate located in the Commonwealth containing more than four residential dwelling units shall have the same authority as a party to a real estate transaction as is provided pursuant to subsection B of § 55.1-1003.","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1"}},"ancestry":[{"id":15275,"edition_id":1,"name":"Real Estate Settlement Agents","identifier":"10","label":"chapter","depth":3,"order_by":1,"parent_id":13524,"metadata":{},"date_created":"2026-06-26 03:53:31","date_modified":"2026-06-26 03:53:31","permalink":{"id":245371,"object_type":"structure","relational_id":15275,"identifier":"10","token":"55.1\/II\/10","url":"\/55.1\/II\/10\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13524,"edition_id":1,"name":"Real Estate Settlements and Recordation","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12707,"metadata":{},"date_created":"2026-06-26 03:45:07","date_modified":"2026-06-26 03:45:07","permalink":{"id":245369,"object_type":"structure","relational_id":13524,"identifier":"II","token":"55.1\/II","url":"\/55.1\/II\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12707,"edition_id":1,"name":"Property and Conveyances","identifier":"55.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":244769,"object_type":"structure","relational_id":12707,"identifier":"55.1","token":"55.1","url":"\/55.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":80642,"structure_id":15275,"section_number":"55.1-1000","catch_line":"Definitions","url":"\/55.1-1000\/","token":"55.1\/II\/10\/55.1-1000","metadata":false},{"id":83132,"structure_id":15275,"section_number":"55.1-1001","catch_line":"Limitation on applicability of chapter","url":"\/55.1-1001\/","token":"55.1\/II\/10\/55.1-1001","metadata":false},{"id":79138,"structure_id":15275,"section_number":"55.1-1002","catch_line":"Scope of chapter; lay real estate settlement agents","url":"\/55.1-1002\/","token":"55.1\/II\/10\/55.1-1002","metadata":false},{"id":77232,"structure_id":15275,"section_number":"55.1-1003","catch_line":"Persons who may act as a settlement agent","url":"\/55.1-1003\/","token":"55.1\/II\/10\/55.1-1003","metadata":false},{"id":68373,"structure_id":15275,"section_number":"55.1-1004","catch_line":"Duties of settlement agents","url":"\/55.1-1004\/","token":"55.1\/II\/10\/55.1-1004","metadata":false},{"id":69907,"structure_id":15275,"section_number":"55.1-1005","catch_line":"Persons prohibited from assisting or being employed by settlement agents","url":"\/55.1-1005\/","token":"55.1\/II\/10\/55.1-1005","metadata":false},{"id":73624,"structure_id":15275,"section_number":"55.1-1006","catch_line":"Choice of settlement agent","url":"\/55.1-1006\/","token":"55.1\/II\/10\/55.1-1006","metadata":false},{"id":58611,"structure_id":15275,"section_number":"55.1-1007","catch_line":"Disclosure","url":"\/55.1-1007\/","token":"55.1\/II\/10\/55.1-1007","metadata":false},{"id":58141,"structure_id":15275,"section_number":"55.1-1008","catch_line":"Conditions for providing escrow, closing, or settlement services and for maintaining escrow accounts","url":"\/55.1-1008\/","token":"55.1\/II\/10\/55.1-1008","metadata":false},{"id":82868,"structure_id":15275,"section_number":"55.1-1009","catch_line":"Falsifying settlement statements prohibited","url":"\/55.1-1009\/","token":"55.1\/II\/10\/55.1-1009","metadata":false},{"id":72074,"structure_id":15275,"section_number":"55.1-1009.1","catch_line":"Prohibition against payment or receipt of settlement services kickbacks, rebates, commissions, and other payments","url":"\/55.1-1009.1\/","token":"55.1\/II\/10\/55.1-1009.1","metadata":false},{"id":69513,"structure_id":15275,"section_number":"55.1-1010","catch_line":"Separate charge for reporting transactions limited","url":"\/55.1-1010\/","token":"55.1\/II\/10\/55.1-1010","metadata":false},{"id":84855,"structure_id":15275,"section_number":"55.1-1011","catch_line":"Record retention requirements","url":"\/55.1-1011\/","token":"55.1\/II\/10\/55.1-1011","metadata":false},{"id":71946,"structure_id":15275,"section_number":"55.1-1012","catch_line":"Regulations and orders","url":"\/55.1-1012\/","token":"55.1\/II\/10\/55.1-1012","metadata":false},{"id":59279,"structure_id":15275,"section_number":"55.1-1013","catch_line":"Accounting by title insurance companies","url":"\/55.1-1013\/","token":"55.1\/II\/10\/55.1-1013","metadata":false},{"id":70071,"structure_id":15275,"section_number":"55.1-1014","catch_line":"Settlement agent registration requirements and compliance with unauthorized practice of law guidelines; civil penalty","url":"\/55.1-1014\/","token":"55.1\/II\/10\/55.1-1014","metadata":false},{"id":65576,"structure_id":15275,"section_number":"55.1-1015","catch_line":"Penalties and liabilities","url":"\/55.1-1015\/","token":"55.1\/II\/10\/55.1-1015","metadata":false},{"id":69153,"structure_id":15275,"section_number":"55.1-1015.1","catch_line":"Civil penalties; attorney fees","url":"\/55.1-1015.1\/","token":"55.1\/II\/10\/55.1-1015.1","metadata":false},{"id":79216,"structure_id":15275,"section_number":"55.1-1016","catch_line":"Confidentiality of information obtained by the Commission","url":"\/55.1-1016\/","token":"55.1\/II\/10\/55.1-1016","metadata":false}],"previous_section":{"id":83132,"structure_id":15275,"section_number":"55.1-1001","catch_line":"Limitation on applicability of chapter","url":"\/55.1-1001\/","token":"55.1\/II\/10\/55.1-1001","metadata":false},"next_section":{"id":77232,"structure_id":15275,"section_number":"55.1-1003","catch_line":"Persons who may act as a settlement agent","url":"\/55.1-1003\/","token":"55.1\/II\/10\/55.1-1003","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/55.1-1002\/","history_text":"

This law was first created in 1997. The record of its establishment is cataloged in chapter 716<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 4 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1998, chapters 69<\/a>, 162<\/a>, and 736<\/a>; in 1999, chapter 647<\/a>; in 2010, chapter 794<\/a>; in 2019, chapter 712<\/a>.<\/p>","references":false,"refers_to":[{"id":77232,"section_number":"55.1-1003","catch_line":"Persons who may act as a settlement agent","order_by":null,"url":"\/55.1-1003\/"}],"permalink":{"id":245381,"object_type":"law","relational_id":79138,"identifier":"55.1-1002","token":"55.1\/II\/10\/55.1-1002","url":"\/55.1-1002\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/55.1-1002\/","token":"55.1\/II\/10\/55.1-1002","dublin_core":{"Title":"Scope of chapter; lay real estate settlement agents","Type":"Text","Format":"text\/html","Identifier":"\u00a7 55.1-1002","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Except as provided in subsection B, this chapter applies only to transactions involving the purchase of or lending on the security of real estate located in the Commonwealth containing not more than four residential dwelling units. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Notwithstanding any rule of court<\/span> or other provision of this chapter to the contrary: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> A lay real estate settlement agent<\/span> may provide escrow<\/span>, closing, and settlement services for any real property located within the Commonwealth, and receive compensation for such services, provided that he is registered pursuant to and is in compliance with the provisions of this chapter with the exception of subsection A; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> A party<\/span> to a real estate transaction involving the purchase of or lending on the security of real estate located in the Commonwealth containing more than four residential dwelling units shall have the same authority as a party<\/span> to a real estate transaction as is provided pursuant to subsection B of § 55.1-1003<\/a>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSCOPE OF CHAPTER; LAY REAL ESTATE SETTLEMENT AGENTS (\u00a7 55.1-1002)\n\nA. Except as provided in subsection B, this chapter applies only to transactions\ninvolving the purchase of or lending on the security of real estate located in\nthe Commonwealth containing not more than four residential dwelling units.\n\nB. Notwithstanding any rule of court or other provision of this chapter to the\ncontrary:\n\n 1. A lay real estate settlement agent may provide escrow, closing, and\n settlement services for any real property located within the Commonwealth, and\n receive compensation for such services, provided that he is registered\n pursuant to and is in compliance with the provisions of this chapter with the\n exception of subsection A; and\n\n 2. A party to a real estate transaction involving the purchase of or lending\n on the security of real estate located in the Commonwealth containing more\n than four residential dwelling units shall have the same authority as a party\n to a real estate transaction as is provided pursuant to subsection B of §\n 55.1-1003.\n\nHISTORY: 1997, c. 716, \u00a7 6.1-2.19; 1998, cc. 69, 162, 736; 1999, c. 647, \u00a7\n6.1-2.32; 2010, c. 794, \u00a7 55-525.18; 2019, c. 712.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}